03-13-2009 10:39 PM
03-14-2009 06:39 AM
keep hooters over patelco? nah.
I'm getting rid of patelco because they do not give CLI'S unless you call and ask and it's always a hard. I got EX on ice because it seems that's where i'm getting hit with so many INQ trying for CLI's. I finally got them to give me an increase because I only had 5 INQ on EX in the last year. Now I gotta fax some info over 2 them. not worth it. I don't like that fact that u can open a CD, checking r saving with no problem but when u ask for an CLI all the sudden they want u to fax them this and that.
03-14-2009 07:12 AM
keep hooters over patelco? nah.
I agree. Hooter's is sub prime Patelco is not. They're only asking you for paystubs right? All the credit unions do that.
03-14-2009 07:19 AM
I have been trying to get a HELOC but I kept getting turned down and after getting the rejection letters in the mail the reason on all of them were to many credit card. So I called up a couple of banks hoping I could change there minds but it was a no go. The 2 banks that I talked to said the number of open accounts is 1 of the things that they look at when someone is apping for any loan. I have my home insurance thru Nation Wide so they sent me a letter basically saying I'm preapproved for any loan I wanted. So I went for the HELOC & 1 of their CC's. I got the HELOC but was turned down for the CC. A rep called me and told me I was turned down for the CC because of to many open accounts. I know some won't agree with this but I'm about to close all of my credit cards except 5 and 2 store cards. I currently have 12 CC's and 3 store cards. Chase, Amex, Patelco, Hooters, Cap1, care credit r all getting the axe this weekend. Might keep the Hooters.
You got the HELOC with all those open credit cards right? So why would you close any cards?
03-14-2009 08:34 AM
What is the purpose of closing cards? To qualify for more cards?
If you are weeding out cards i would do it in this order:
1) Any cards that charge a fee
2) Any cards with a credit limit <1000
3) Cards < than 1 year old.
4) Name recoginition- if things equal I would keep a Chase card over a Hooters or Crap1 o r Target
You need to quit applying- shoot for zero inquiries for the rest of the year.
03-14-2009 08:38 AM
This is what they asked for
They don't like u to have a lot of INQ's when u apply for anything but they hit u with a hard everytime u ask for a CLI. Plus I don't want to pay to be in the rewards program.
I'm closing some of my cards that I got when I 1st starting rebuilding my credit. Low limits cards and the 1's with no rewards. 1st it went from using your sock drawer cards every 6 Months to every 3 Months and now once per Month. I think eventually they will start closing accounts with little use and I rather have on my reports that I closed them. I normally only carry small balances so it shouldn't hurt my scores to much right now. I'll close 1 to 2 of them every 2 Months. I think if u start off with bad credit some of these banks still see u as a high risk even though your scores go up and you're with them for years. I just think the less cards I have to deal with the more money I can put towards the reward cards I like and I'm happy with.
03-14-2009 08:45 AM
03-14-2009 12:24 PM
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